With QPR trailing 2-0 at Loftus Road during Wednesday's clash (AEST), Luongo brought fans to their feet midway through the second half with a vicious volley from the edge of the box.
Luongo's effort was the catalyst to the hosts' second half revival, as QPR found the all-important equaliser five minutes from full-time.
🎥 It was a dramatic evening in W12 last night.
— QPR FC (@QPRFC) September 13, 2017
"That's the icing on the cake," Holloway said of Luongo's goal.
"If he starts doing that then, wow, what a player we've got on our hands!
"The kid's getting better and better. I'm delighted for him.
"If there's a better midfielder in the league at the moment then I'd like to see him."
The 24-year-old has been ever-present for QPR this season, starting all seven league games with both a goal and an assist to his name.
While the 2-2 draw helps Holloway's side keep pace with the top six, fellow Socceroo James Meredith will hope for a better result next time out as Millwall sit two points above the relegation zone in 19th place.
The left-back has featured in all seven of the their league fixtures this season and will likely take the field this weekend as league leaders Leeds United visit Millwall on Sunday (AEST).